Hsbc Holdings PLC Increases Stake in Cohen & Steers, Inc. (NYSE:CNS)

Hsbc Holdings PLC grew its position in Cohen & Steers, Inc. (NYSE:CNS) by 91.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,193 shares of the asset manager’s stock after acquiring an additional 63,019 shares during the quarter. Hsbc Holdings PLC’s holdings in Cohen & Steers were worth $9,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank raised its stake in shares of Cohen & Steers by 813.2% in the second quarter. Amalgamated Bank now owns 7,936 shares of the asset manager’s stock valued at $576,000 after acquiring an additional 7,067 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Cohen & Steers in the second quarter valued at $4,108,000. Dimensional Fund Advisors LP increased its stake in Cohen & Steers by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,176,861 shares of the asset manager’s stock worth $85,390,000 after buying an additional 35,905 shares during the period. WINTON GROUP Ltd purchased a new position in Cohen & Steers in the 2nd quarter worth about $950,000. Finally, Inspire Advisors LLC increased its stake in Cohen & Steers by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 11,337 shares of the asset manager’s stock worth $823,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Cohen & Steers Price Performance

CNS stock opened at $95.81 on Tuesday. Cohen & Steers, Inc. has a 12 month low of $50.05 and a 12 month high of $97.57. The firm’s 50-day moving average is $86.41 and its 200 day moving average is $76.95. The company has a market capitalization of $4.84 billion, a PE ratio of 37.28 and a beta of 1.54.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, July 17th. The asset manager reported $0.68 EPS for the quarter. The business had revenue of $121.70 million for the quarter, compared to the consensus estimate of $121.48 million. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 2.46%. Cohen & Steers’s dividend payout ratio is currently 91.83%.

Analysts Set New Price Targets

Several research analysts recently commented on CNS shares. Evercore ISI raised their price target on shares of Cohen & Steers from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. UBS Group reduced their price target on shares of Cohen & Steers from $65.00 to $63.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th.

Insiders Place Their Bets

In other Cohen & Steers news, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the completion of the sale, the executive vice president now owns 155,311 shares in the company, valued at $13,058,548.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cohen & Steers news, Director Richard P. Simon sold 7,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total transaction of $564,270.00. Following the completion of the sale, the director now owns 15,660 shares in the company, valued at $1,262,352.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the sale, the executive vice president now owns 155,311 shares of the company’s stock, valued at approximately $13,058,548.88. The disclosure for this sale can be found here. Insiders sold a total of 20,600 shares of company stock worth $1,710,365 over the last 90 days. Company insiders own 47.60% of the company’s stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.